| Thrift
Savings Plan Program
The Thrift Savings Plan was established by the Federal Employees
Retirement System Act of 1986 to provide a tax-deferred retirement
savings plan for federal employees, including both those covered by
FERS and those covered by CSRS. It permits participants to
supplement their Civil Service Retirement System (CSRS) or Federal
Employees' Retirement System (FERS) retirement benefits by investing
in various funds.
How have the contribution limits changed
for the TSP?
On December 21, 2000 President Clinton signed the Omnibus
Consolidated and Emergency Supplemental Appropriations Act for
Fiscal Year 2001. This law contains a provision that increased
incrementally the contribution limits to the Thrift Savings Plan for
participants covered by FERS and CSRS. Beginning with the May 15,
2001, open season with elections, FERS employees may elect to
contribute up to 11 percent of their basic pay; CSRS employees may
elect to contribute up to 6 percent. These elections will become
effective in July 2001. Effective January 2002, and each following
year, the contribution limits will increase by one percent until
January 2006, at which time the limit will be eliminated completely.
The IRS annual deferral limit ($10,500 for 2001) remains in
effect. There is also no impact on either the Agency Automatic (1%)
Contributions or the Agency Matching Contributions.
Thrift Savings Plan
Rate Information
 
Additional Information:
Department of Interior Personnel Manager
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